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? >> the leverage they have to debt ceiling that get to spending cuts, debt ceiling will be there you have to adjust it somehow, let's get to spending cuts. gross domestic product is -- >> the president said we don't have a spinnin spending problem. congressional black caucus said leave the entitlements alone. and with show much left off the table and feeling emboldened by polls that say keep sticking it to the rich. when are they going to do anything. >> that is the problem, you have to cut on some indict illment, and you have -- entitlements. neil: i know you are right, but the democrats fils feel the wins thwind isat their back. >> the issue is any spending increase, and any tax cut has to start in the house of representatives. when you give that up. >> game over, joe, now. you talk about the balance of tax hikes. >> in terms of tax hikes? my friends are not going to like this on wall street, if you don't have paid in capital in hedge fund you should not get capital gains treatment. >> you would be -- >> i would be surgical at this point. neil: you would -- >> i would take away certain subsidies
for the big battle everybody knows is coming. the first thing lew will do, the debt ceiling standoff, budget cuts, the same battle we have been hearing about and everythinges posturing for that. >> shepard: the signature aside -- i'm bored with the signature item -- there's never been much opposition or crying about jack lew before? >> he is almost a cipher to people outside of washington. he has been a washington insider and obama would be happy to have a guy who can get through without a lot of controversial because he will have a fight over chuck hagel. already pulled susan rice. so jack lew has worked with everybody on the hill, republicans and democrats, that's where the came from-spend the early part of his career. everybody knows him, a touch negotiator -- a tough negotiator. >> shepard: a very big player with a lot of work to do. you talk about what's coming up in march with the debt ceiling fight. the president already said he is not negotiating. >> of course and the republicans have drawn a line in the sand. so we have the starting point. now we have to see if either side is going
in the debt ceiling we want a dollar in spending cuts. by the way, sequestration is a result of that same philosophy the last time we hit the debt ceiling. the republicans in congress at that time said that they wanted spending cuts to equal the amount of increase in the debt ceiling. congress could not agree on what specifically to cut for that full amount, so we came up with sequestration as a forcing function to make that happen. so these are, sequestration cuts are cuts leavitt over from the previous debt ceiling increase. now we're facing another moment where every to increase the debt ceils. if you want to increase the debt ceiling enough to give us about a year of operating time, that'd be about a trillion dollars. if you want to completely offset the cuts in sequestration with other deficit reduction, that'd be another trillion dollars. putting these two on the same timeline doubles the problem. i'm not confident congress can come up with another $2 trillion in deficit reduction by that deadline. let's keep in mind with the fiscal cliff, um, relative to what would have happened if
is if you believe that it would be a mistake to test cutting spending by holding off on this debt ceiling issue. >> that's a tough call. i do believe in the rule, and you know it, every dollar of increase in the debt should be tied to a dollar of spending cuts. this is, i think, a financial emergency we are facing, and i think that is very commonsensical, and of the president rejects that, then who is responsible for not raising the debt ceiling? the congress or the president? i guess what i am saying is, lot of this will be determined by public opinion. as the public wants, a blank check to increase debt? if so, that is what the president will get. if they say, this is a real problem and we won't give him a blank check and an unlimited credit card in demand some spending cuts. i am not sure politically how this will play of, but i just don't think the republicans are going to give the president that. gerri: you know, $1 of spending for $1 of tax cuts rule, but he could not keep that rule when he passed the deal for the fiscal cliff. how do you think, for heaven's sake, you will be able t
that for every dollar increase in the debt ceiling, we want a dollar in spending cuts. sequestration is a result of that last -- of that philosophy the last time we hit the ceiling. they wanted spending cuts equal to the raise in that that ceiling. congress could not agree. that is why they came up with sequestration. sequestration cuts are cut left over from the previous debt ceiling increase. now we are facing another moment where the debt ceiling needs to be increased. if you want to increase it to give us a year of operating time, that would be about 3 trillion dollars. putting these on the same timeline doubles the problem. i'm not confident that congress can come up with another 2 trillion dollars in deficit reduction by that deadline. with the fiscal cliff, relative to what would have happened if all of those programs had been extended, what they ended up passing reduce the deficit by less than one trillion dollars. look at how hard that was to achieve. less than one trillion dollars. it we will raise the debt ceiling and offset sequestration, it will be twice as hard. i'm not confident c
with congress that are coming up, including the battles over the debt ceiling and those pending budget cuts. if confirmed, you'll be seeing a lot more of this. that is jack lew's looping signature on every new green back that is printed. it's been described as a slinky that lost its spring. lew says he'll make his name more legible if he does get the job. >>> and vice president joe biden meets with the nra today as the debate over gun violence intensifies. it could be a tough sell since the group already says it opposes any new restrictions. among those speaking out is new york's governor. andrew cuomo is urging lawmakers in his state to close loopholes on the state's assault weapons ban. >> this is not taking away people's guns. i own a gun. i own a remington shotgun. i've hunted. i've shot. that's not what this is about. it is about ending the unnecessary risk of high capacity assault rifles. that's what this is about. >> he was quite fired up today. yesterday rather. results of a new study are sure to fuel the already intense debate over guns. the u.s. sees far more violent deaths than a
for many cuts as a part of the deal on the debt ceiling but the president himself has said he's not going to negotiate it also is going to put republicans in a tough position. if they want to push in the present won't play ball they will end up satisfying the activists and not getting a deal so they will have to craft a real strategy perhaps a better strategy than they had on the clip deal. >> host: texas, independent line, robert your next. >> caller: yeah, we are not seeing a republic president for another 11 or 12 years. obama has to finish out his term and hillary is going to take another eight years. rubio will help for the republicans but he is cuban and the latinos are not going to go for mexicans and latinos. you have to remember the cubans had kennedy and the russians and all that. the latinos will not follow you as they would a real latino. >> host: what was your first about speaker boehner? >> caller: he needs to have a republican presidents to have any help. >> guest: it's a very fair point. one of the real problems right t right now is in the republican party and even within
problems? >> at think the answer is simple. we don't have a fight or a crisis over the debt ceiling. we have a fight in crisis overspending that causes debt. if the spending or cut and there was an agreement but place on the way to rein in explosive and -- entitlement spending and brought the debt under control, no one would even mention the debt ceiling. the key will be to focus on the real problem, which is the debt. acknowledge solution for anyone not living in budgetary fantasyland. make some progress on that. gerri: at think it's budget fantasyland for us. well, the senate has not backed the budget in 1,351 days, gretchen. come on. we are going to -- our debt is going to get downgraded by standard and poor's and moody's and everyone else, and we will have a sell-off of 2,000 points in the stock market, right? >> you're right. on top of not having a budget, we have also had $5 trillion worth -- five years worth of trillion dollar deficits which is what we are heading toward. the four past years, and the cbo coming out saying we're headed into our fifth. gerri: unbelievable. tyler, t
the immediate task of negotiating with republicans on raising the national debt ceiling, and agreeing on major spending cuts. some republicans have complained that lew has been unyielding in past negotiations. but the president said today: >> over the years he's built a reputation as a master of policy who can work with members of both parties and forge principled compromises. >> brown: the announcement came a day after labor secretary hilda solis announced she's stepping down after four years on the job. solis was the first hispanic woman to serve in a top cabinet position. and, she's the latest of several high-profile women to depart, including secretary of state hillary clinton and lisa jackson, administrator of the environmental protection agency. along with the president's earlier nominations-- for state, the pentagon and the c.i.a.-- that's raised questions about a loss of diversity in the cabinet. but yesterday, white house spokesman jay carney said the president's record on diversity should speak for itself. >> i mean, the increase in the representation of women in senior positions is
officials, face the immediate task of negotiating with republicans on raising the national debt ceiling, and agreeing on major spending cuts. some republicans have complained that lew has been unyielding in past negotiations. but the president said today: >> over the years he's built a reputation as a master of policy who can work with members of both parties and forge principled compromises. >> brown: the announcement came a day after labor secretary hilda solis announced she's stepping down after four years on the job. solis was the first hispanic woman to serve in a top cabinet position. and, she's the latest of several high-profile women to depart, including secretary of state hillary clinton and lisa jackson, administrator of the environmental protection agency. along with the president's earlier nominations-- for state the pentagon and the c.i.a.-- that's raised questions about a loss of diversity in the cabinet. but yesterday, white house spokesman jay carney said the president's record on diversity should speak for itself. >> i mean, the increase in the representation of women i
with this debt ceiling and people are starting to talk about cutting back medicare, which is the better bargain, and which is better for the people who need it? >> well, at the end of the day, if you have a medication that can improve the lot of people with these terrible diseases, that is a lot cheaper in the long run than paying for all of the hospital care and other care that you're going to need down the road as these people have their chronic conditions. in fact, investing in good medicines that really deliver value to the patient is an economically important way to go. that's a smart way to go. >> and it has to be the same for cerebral palsy, i have to believe. you've got a 20-person safety and efficacy trial going on right now. you don't know what the results are. but 400,000 people have this. if you have a pill that could make people be more physically in control of their lives, i have to believe that's a bargain for america and it's great for the people. >> couldn't have said it better myself, absolutely. >> now, how about epilepsy? where are we? because when i see someone buying a com
at this in context of what it may mean for the debate on spending cuts as we approach this debt ceiling limit and the fight that is ensuing. tim get near is leaving january 25th. that means lew will be the main point person for this debt ceiling drama. so, what does this mean ahead of what is likely to be another hard fight? perhaps the best clues for that are in an op-ed from two years ago from jack lew. inis entitled "the easy cuts are behind us." the piece absolutely advocates getting out of our debt and getting the debt and deficit under control. but it does so by discussing some cuts in defense and then examples of scaling back things like something called the great lakes restoration initiative. not eliminating it, just cutting it by maybe a quarter of its present cost. a sav
of course in negotiations over the debt ceiling and potential spending cuts. the president will make his announcement at 1:30 eastern. it's an event in the east room at the white house. i have to say off the bat just because he's a forest hills guy like me that i, you know, may be a little affinity, we grew up in the same town. >> that alone could be good. >> different generation. >> maybe a technocrat is what's necessary. no one tells me this guy is acrimonious. the talks may have been. but when we're trying to figure out what to cut, maybe you just need a guy who knows his way around the budget as opposed to a federal reserve guy. i thought tim geithner did a great job, though, and i know i find myself in the minority on that, but he came to the rescue of the system in apparel husband time and i think he good a remarkable job. >> jack lew is well respected by both sides of the aisle. and also portrayed as chief tormenter to the republicans. bob woodward in his book quoted john boehner saying jack lew said no 999,000 times out of a million and then he corrected himself 999,999 out of a
to him on the debt ceiling, on the question of entitlement cuts, et cetera, et cetera. even perhaps reforming the tax code. we don't know if they're going to get to that. he had to have somebody he trusted there just the way that ronald reagan felt he had to have somebody he trusted at the treasury. and i think it's the -- the same situation. also what's interesting here about jack lew, not only is he well known among congressional democrats, particularly senior congressional democrats because he was on the hill himself. he also had a role in hillary world, don't forget, at the state department. he was a deputy secretary of state in charge of the huge, huge state department budget. so he knows people over there very well, and he also obviously knows people in this administration very well. not only as chief of staff but as former budget director. and again, i can't emphasize enough the number of people inside the administration who said to me, the president feels comfortable with jack lew, and he trust jack lew. if you look at all of these cabinet appointments that we've seen and so
the only way we'll raise the debt ceiling is if we get the cuts we want in social security and medicare which as you pointed out they'll come back with that. do you think the president would have the authority under the 14th amendment to raise the debt ceiling on his own without waiting for congress? >> yes i do believe it has the authority but unfortunately the president made it clear he will not use the authority. i don't know whether he really believes he has it. he has made it clear he won't do it. >> bill: too bad. it would have been nice to see him issue that threat. >> peter: congressman, i want to ask you about a topic that's been gaining traction here in recent weeks. >> bill: one way to solve the debt ceiling problem. >> peter: one way to solve the debt ceiling problem is for the treasury to create a coin and deem it worth $1 trillion. it is the mint a coin campaign and use that to pay down our deficit. the white house yesterday was asked about it. they didn't rule it out. what's your take on that, congressman? is that something that we could possibly look at and even go down
the lead and cut those entitlements. if not, if we're looking at a debt ceiling rising and that is a difficult situation. melissa: jonathan, real quick, last word. we're out of time. go ahead. >> this is the individual who signs the currency. he needs to be the fiscal voice of reason in the white house. jack lew is on record saying he doesn't believe big cuts are needed, big changes are needed. he is more of a surgical, small cut type of guy. this is exactly the wrong approach given our fiscal issues. melissa: we'll end on that. fantastic power panel. come back soon. thank you very much. nothing says can thing like scoring an oscar. the academy awards nominees are out. how much does it pay if you win? we'll crunch the numbers next. >>> plus the worst flu season in a decade is sweeping the country but the outbreak could make the economy fall ill. we'll explain coming up. do you ever have too much money? definitely don't have many oscars, that's for sure. ♪ . look, if you have copd like me, you know it can be hard to breathe, and how that feels. copd includes chronic br
're considering raising the nation's credit card limit, the debt ceiling is the time to do it. the white house says it won't negotiate. >> this is about past spending, not future spending. it is about paying our bills. and congress has that responsibility. congress needs to fulfill it. >> remember, republicans had to accept a tax increase in the last crisis. the fiscal cliff. now they want to slash spending. >> we need significant spending cuts and real tax reform to address our long-term debt problem and pave the way for long-term growth and real growth in jobs in our country. >> it's hard to see how they avoid another crisis coming down to the wire when the white house says it will negotiate but not on this deal. shep? >> shepard: now some of the states' governors saying they are not happy about another d.c. showdown. >> a governor in delaware a democrat the governor of oklahoma republican saying they are worrying about the uncertainty the impact it will have on jobs and impact it will have on state budget. washington will come up with the bright idea of offsetting costs having the costs pai
when we hit the debt ceiling right. >> the debt ceiling coming up. debt ceiling in fiscal cliff has now become 2013 issues. but us talk about another winner. this of facebook shares rally above $30 a share. we are on our way up it is a winner for facebook. >> the ipo had people screaming like a scalded champ. it is up 10% this year so it's a matter of when did you buy it. after announcing a mystery press conference for tuesday next tuesday the 15th. i looked at their peak about 160. that is pretty expensive. they got something. they have this do it hasn't called yet. >> maybe it could be a retail announcement that they have. maybe it will be a fall, streaming, or games. a lot of people are expecting that will show off their new building. >> i think it will be a new hoodie. >> let us talk about a loser bridge piers is leading the x factor after one season. she met a lot of money after one season. >> if she did you hear what is it? >> no. >> she said i quick y'all. >> to the new paula abdul is she? beating she is working on an album with will iam. >> $15 million per season. i quick y'all.
in the house. >> no, i don't want to see the debt ceiling violated or default. i do not. but i think a deal has to be made, howard. and i think -- spending cuts have to be the key part of that deal. this guy has a reputation not as a spending cutter, but as a tax hiker as steve forbes just said. >> the reason republicans don't like him, he's smarter than they are. which isn't hard to do these days. the fact of the matter is, obama's correct. you can't negotiate over the debt ceiling. it was never done before, before 2011, it should never have been done. you want to know why the dollar's down 10%? >> yes. >> because we made this ridiculous deal on the fiscal cliff that increases spending. had we gone over, the market would be up and the dollar would be stronger because we would've done something about the deficit. the dollar has nothing to do with any fiscal irresponsibility on obama's part because i don't think he's fiscally responsible. it has to do with the deficit which i naturally blame on the republicans. >> steve forbes, i've got another one for you. this is -- maybe i shouldn't raise thi
on the debt ceiling. you've got guys like mcconnell and boehner say -- >> you may be right. the restoration of the old northwest republican party under the leadership of chris christie. somebody's got to bring it back which you're part of. you don't act like it sometimes. you're going to be one of them. wouldn't you like to be press secretary to chris christie of the united states? what a job. >>> what's wrong with this picture? here's what a gathering of president obama's top cabinet officials and aides might look like. a lot of people are looking at this saying where are the women and minorities? the group that put the president back in the white house. >>> also could the answer to the gop's problems be found somewhere in the swamps of jersey? sounds like the colonial wars. that's a bruce springsteen reference. now one of the biggest fans is chris christie. he may be what they need to break out of their super religious people. here's my question. how does a pragmatist like christie get through a tea party driven primary season. >>> christie wants to save the party from itself. republicans
involved in administration negotiations over the fiscal cliff and raising the debt ceiling, the latter being a congressional fight with republicans. he is also going to have to kind a way to fight the automatic spending cuts. hilda solis has announced she was stepping down. she was the nation's first hispanic to hold that cabinet position. she appeared on bill press monday and gave no indication at the time that she might be leaving so long. >> i'm here today. i enjoy working with everybody. >> her departure adds to the mounting criticism of the obama administration for now seeming to stack its cabinet with men. all of the recent nominations are white males. as for who will remain eric holder is going to stay on for a second term and secretary of veteran at fairs. we're back after the break. stay with us. ♪ alright, in 15 minutes we're going to do the young turks. i think the number one thing that viewers like about the young turks is that we're honest. they know that i'm not bs'ing them with some hidden agenda, actually supporting one party or the other. when the demo
to the debt ceiling debate that we are going to be having. he hhs been intransigent, certain republicans down it came to any sort of meaningful spending cuts in the fiscal cliff. ashley: giving her the last word, do you think jack lew is the man? >> i do. negotiating tip o'neill and ron reagan, newt gingrich and bill clinton. this is someone who knows how to bring both sides together and get a deal done. ashley: we have to leave it there. thank you so much, kate obenshain and penny lee. thank you for joining us. >> thank you. ashley: always want to debate. tracy: sure is. ashley: lots to talk about. tracy: for a while now. a valentine's day, which, a lot going on. all right. cheryl take as to the last hour "countdown to tmyhe closing bel" is next. ♪ i honestly loved smoking, and i honestly didn't think i would ever quit. [ male announcer ] along with support, chantix is proven to help people quit smoking. it reduces the urge to smoke. it put me at ease that you could smoke on the first week. [ male announcer ] some people had changes in behavior, thinking or mood, hostility, agitation, depr
thing that we did hear from roger earlier today is that even if we get through the debt ceiling, what could happen is that the sequestration that's been pushed off two months to march 1st, those cuts just go into effect if we can't reach any sort of agreement. would you be okay with that happening as a way of bringing down spending? >> well, it's a fairly low-tech algorit algorithmic way to cut spending, i agree. but maybe it's the first step. ultimately what this has to end up in is a serious discussion on entitlements, specifically health care costs, long-term health care costs, given the demographics, given the shape of the curve, are going to bankrupt this country. social security, we have to look at it. we have to look at, you know, ages of receiving social security, means testing, all of those things. and as i said the last time i was on your show, if you address those two major issues, which are really longer-term problems and shorter-term problems the math shows that the long-term impact is dramatic, and the short-term impact is much less edgy than the type of sequestration cu
Search Results 0 to 32 of about 33 (some duplicates have been removed)